Bangko Sentral ng Pilipinas Retains 4.0% Overnight Borrowing Rate

March 26, 2015

The Filipino Monetary Policy Board engineered its first interest rate hike since May 2011 in July 2014 and followed up that move with a second 25-basis point increase to 4.0% in September 2014.  Those increases reversed half the easing done in 2012.  No changes were done in 2013.  A statement released today after the latest Board meeting calls inflation manageable, demand robust, business sentiment buoyant, liquidity adequate, and public-sector spending high.  Inflation is projected to stay at 2-3% over the coming years, which is good set against a 2-4% target, well-anchored inflation expectations and balanced price risks.

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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